4 years ago

Soldo Raises Record $180 Million for Business Spend Management Platform

  • Soldo, a UK-based fintech company specializing in pay and spend automation, has secured $180 million in Series C funding, a European record for the spend management category

  • The round was led by Temasek, a Singapore-based global investor, with participation from Sunley House Capital, Advent International, Citi Ventures, Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank

  • Soldo's platform provides businesses with real-time visibility and cost control across all departments, integrating with leading accounting software and expense management platforms

  • The funding will be used to accelerate product development and market expansion across Europe, where Soldo sees immense potential for growth.

      • ProblemFinancial Services

      "Businesses struggle with managing their spending due to disconnected payment systems and manual processes, leading to lost receipts, expense reports, and inefficient budgeting. This results in wasted time and money, with European businesses losing an average of 2% of their annual turnover due to weak spending controls."

      Solution

      "Soldo provides a digital platform that automates business payments and spending, offering real-time visibility and control over expenses. It integrates with leading accounting software and expense management platforms, simplifying the process for both employees and finance teams. By streamlining payments and providing insights into spending patterns, Soldo helps businesses save time and money, improve efficiency, and make informed financial decisions."

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